Northey says in a news release Thursday that he will make the announcement at an annual fundraiser at the Iowa State Fairgrounds.

Northey announced in May that he would not seek Iowa’s open U.S. Senate seat next year, citing his preference to remain in his current role. He was one of several top-tier Iowa Republicans who declined to run for the seat after Democratic Sen. Tom Harkin announced he would not seek a sixth term.

Northey is currently serving his second term as agriculture secretary. He was first elected in 2006.